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News
Release
|
For
The Three Months
Ended
March 31,
|
||||||||
2008
|
2007
|
|||||||
Net
(loss), as reported
|
$ | (5,121,031 | ) | $ | (5,401,476 | ) | ||
Net
loss attributed to MSTI segment
|
867,421 | 1,281,139 | ||||||
Net
loss attributed to Telkonet segment
|
(4,253,610 | ) | (4,120,337 | ) | ||||
Interest
(income) expense, net
|
196,972 | (91,237 | ) | |||||
Depreciation
and amortization
|
107,577 | 62,962 | ||||||
EBITDA
attributed to Telkonet segment
|
(3,949,061 | ) | (4,148,612 | ) | ||||
Adjustments:
|
||||||||
Other
expense, non-cash warrant expense
|
1,598,203 | - | ||||||
Stock
based compensation
|
303,698 | 354,186 | ||||||
Adjusted
EBITDA
|
$ | (2,047,160 | ) | $ | (3,794,426 | ) |
TELKONET,
INC.
|
||||||||
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||
(UNAUDITED)
|
||||||||
For
The Three Months
Ended
March 31,
|
||||||||
2008
|
2007
|
|||||||
Revenues,
net:
|
||||||||
Product
|
$
|
3,374,826
|
$
|
637,856
|
||||
Rental
|
1,584,195
|
608,413
|
||||||
Total
revenue
|
4,959,021
|
1,246,269
|
||||||
Cost
of sales:
|
||||||||
Product
|
2,551,939
|
429,468
|
||||||
Rental
|
1,290,264
|
886,993
|
||||||
Total
cost of sales
|
3,842,203
|
1,316,461
|
||||||
Gross
profit
|
1,116,818
|
(70,192
|
)
|
|||||
Costs
and expenses:
|
||||||||
Research
and development
|
665,122
|
474,603
|
||||||
Selling,
general and administrative
|
3,585,510
|
4,260,111
|
||||||
Non-employee
stock based compensation
|
81,500
|
-
|
||||||
Employee
stock based compensation
|
222,198
|
354,186
|
||||||
Employee
stock based compensation of subsidiary
|
133,301
|
-
|
||||||
Depreciation
and amortization
|
256,284
|
151,147
|
||||||
Total
operating expenses
|
4,943,915
|
5,240,047
|
||||||
Loss
from operations
|
(3,827,097
|
)
|
(5,310,239
|
)
|
||||
Other
income (expenses):
|
||||||||
Interest
income
|
26,590
|
42,347
|
||||||
Interest
expense
|
(1,002,709
|
)
|
(133,584
|
)
|
||||
Registration
rights liquidated damages of subsidiary
|
500,000
|
-
|
||||||
Other
income
|
270,950
|
-
|
||||||
Other
expense
|
(1,598,203
|
)
|
-
|
|||||
Total
other income (Expenses)
|
(1,803,372
|
)
|
(91,237
|
)
|
||||
Loss
before provision for income taxes
|
(5,630,469
|
)
|
(5,401,476
|
)
|
||||
Provision
for income taxes
|
-
|
-
|
||||||
Loss
before minority interest
|
(5,630,469
|
)
|
(5,401,476
|
)
|
||||
Minority
interest
|
509,438
|
-
|
||||||
Net
loss
|
$
|
(5,121,031
|
)
|
$
|
(5,401,476
|
)
|
||
Loss
per common share (basic and assuming dilution)
|
$
|
(0.07
|
)
|
$
|
(0.09
|
)
|
||
Weighted
average common shares outstanding
|
71,848,016
|
58,606,420
|